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Full Show 7-10-17

Jul 10, 2017|

Full Show 7-10-17 by The Financial Exchange

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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chunks. Have you noticed that Americans cannot seem to retire. I'm talking about you walk into retail store you'll see a lot of senior citizens working in retail operation whether you're talking about wall martyred JC Penney lot of seniors working in retail. Also see a lot of senior citizens working in health care everybody's Berrian truck with you here on a Monday. And you know I did observe shock that a lot of senior citizens were continuing to work past 865. Past age seventy by doctors overeat 75. And now we have statistics to bolster our observations. We do we we have all the raw data on those different age groups and what's fascinating is that 19% of people 65 or older in general. Are continuing to work right now this is as of the second quarter when he seventeen so its current data that we're getting here 32% one in three. Of Americans aged 6569. Of them are still working right now. That a put that in perspective you know a lot of people said okay we'll 32% OK again. But you might that number is up from 22%. Down in 1994 quick period of time. You know you're talking twenty years that they massive shift that's about the time my dad retired I think he's in the early nineties and he's that was a day HD in the back the early ninety's you think about companies like Verizon and just big corporations and across America. They were doing early retirement packages where people would retire heck I've seen people retire at 5055 and I'm talking about private sector people. Retiring ya right just. You just don't see that anymore people now are working well again it was 22%. Of people between 65 and 69. In 1990 forest 42% of people working today it's 32%. The the one that I find even more striking is people between the age of seventy and 74 back in 1994. Only 11% of those people were working today it's nineteen so it's almost doubled. In a span of 2.3 years you're the number of people. Between the age of seventy and 75. There Wharton and my parent to two of yell at their trade seventy they've both turned seventy this year there's the work they both continue work they're not working. As much as they used to do but even New York Times that you're generating earned income yes that that the you know the and it begs the question. Aren't people doing it because they need the money. Or are they doing it just because they like it like I talked to my doctor he doesn't need the money eat Mac guy you might might. Practitioner he's got plenty of bill suit to retire he just enjoys food. I think that there's definitely some people who feel that way I would say they're probably in the minority just because we know. That this generation we that we know in general Americans have been a good job of saving for. And so I think that if you hold the people who were working today. Over age 65 and I would imagine that somewhere between 7080%. Would say hey I'm working because I need the income. And maybe twenty to 30% would say it's because I want to actually just be working you know in this way I'll tell you. You know that the one thing that we do see though. Is there are people who continue to get part time jobs than they were tired and even they're still in the workforce now so they're not making a ton of money maybe they're only making. You know 1012 dollars an hour two days a week or something like that. But they're still in the workforce. Slipping about all the people that are self employed working for Hoover. Right the only Hoover and lift our big employers. Of people from 65 all the we have to EJ eighty these soon you'll see drivers Jeff working in that capacity our poll question today is will you. Work past 865. Can participate in our poll by going to our web site financial exchange. Showed dot com I voted already and I voted yes I plan to work past the age 65 and I like what I do I think all if he fell work. Probably till the they carry me out of here. Anyway let's move on to health care. Following the recess it is appearing as if health care repeal bill and re do of that obamacare is getting tougher and tougher. Does seem that way and we've heard a number of pretty prominent voices coming out of the senate over the last couple days. Stating that they don't believe that they're going to get the deal done you know anyone from. Bill pass the demo we CNN's John McCain an Arizona. Mitch McConnell knows come out and said look I'm not sure that we're going to be able to get this done and we may need to move to plan B. Even though there's not even consensus on what plan B is or what it should be you know the it it seems like. It is becoming more and more difficult the board that you try to get down in the weeds here which is kind of what you would expect to see him in this this was a bill that they didn't really. Give an awful lot of time as they were initially preparing it. And the problem is we get down into the details you find you need a little bit more in order to get something don't you think the Democrats who work for the next year to do bill. That's a really good question is Mitch Mitch McConnell threw that out last week saying look we may need to. Work Bart partisan fashion and the if they don't do something in the whole thing's gonna fall down the house of cards right and in certainly. You've elected imagine that Democrats say okay we don't want the whole thing to fall part out of you know the need to you know we've do something to help out these people and our country. At the same time. If you're sitting there and and year Chuck Schumer you're sitting there and you say internal apple what are you gonna give me an order to get this done because. I don't need to cooperate with you have egg on your face if you can't get something done I think the criticism towards Republicans for seven years they said they had a plan. Right they said they had Britney noted the repeal obamacare how many different time they said they had a cohesive plan and they were ready. Repeal vote for us route will repeal obamacare and we got a great plan. Arabic I still think something gets done you do it. I I'd begin I just I think Mitch McConnell has proven time and time again that he's been able to get things done. I don't like the builds on the table but I still think he's going to be able to get done and I. The Boston Bruins beat the IRS. In tax court this whose. Actually quite good story in a remarkable victory on behalf of the Boston Bruins as it relates to there. Battle and I love to see this they won a battle with the Internal Revenue Service yelled what what you saw here was that. The iris had claimed that the Bruins owed about 85000 dollars in taxes because the team adopted a 100% of the cost of meals while players were on the road. Instead of the 50% the IRS claim that they should be able to deduct with the team argued. Was that because the team was traveling man. Every site they traveled to was effectively an on site meal that they were having where you can deduct 100% a lot of tech companies use this when they have. You know their tail smoothies and Google's headquarters and so forth and and so the team it's it look when when we're on the road. That is our primary location you know we can't just do this when we're at home for home games. And actually ended up winning this and so they're not gonna have to pay that 85000 dollars a year and this also means that other teams are going to be able to start doing this as well. Good news mean if if Europe professional sports do you think about how much you spend the feed you know imagine your football team via in your meaning. Fifty guys who between two and 300 pounds. Did the what does that add up to indebted to the practice players travel with the NFL teams typically know so what you typically see. Is that your 53 man roster will travel. And so you still beating of fifty guys a lot when you're traveling to win again in and all the training staff and the managers is like you're traveling with about 8590 people when it's all said and done. If we'll see this this caught my attention a Smart speaker reported. Lee alerted cops to an assault after a man allegedly threatened to kill his girlfriend. This which are usually we don't know the brand of the speaker we don't know if it was Alexa. We don't know who Siri we don't know who else think these things. Google's system Google there's Google doesn't mean apple with apple home is starting to get into it now I mean you've you've you've got to across the board. But this woman is being assaulted by for. But by her boyfriend I believe. And he threatened to kill his girlfriend and passed did you call the sheriff right in the sheriff shows up. You know what what. Yeah they'd be assisted by on hearing that in that. Interaction called the cops yeah it wasn't that. You know he it wasn't just that it recognized what was going on it was he said did you call the sheriff and somehow that the speaker picks up his you wanted to call the sheriff now and in. And did so it's an interest in store I still have all kinds of privacy concerns with these things can. In and I say this despite thinking. That the technologies fascinating I think he can be incredibly useful but I've got a lot of privacy concerns and speakers undoubtedly. Up next we were just talking about retirement and we're gonna be joined by Steve Richardson from the department of Social Security to talk about. The state of our. Fund not particularly rosy but we'll give you full update on Social Security when we return from our insurer match dot com studios. As the trump agenda stalled. Variant check of the latest every day beginning at ten only on the financial exchange radio network. 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Called today 844 and 99 match or go online and ensure a match dot com. Very Armstrong here and I'm joined by the vice president Jacque tool from leader bank. We're talking about zero rent. This is exciting because Z rent is a method for landlords to collect their rent electronically. But there's now we're fine we're finding Jane that it's being widely adopted by Condo associations tell everybody what he rented. All right so he rented the product we innovated leader may. Many can be found it www. Theory dot net and it's essentially. In online payment technology that allows landlords to collect the rent electronically from. And it's. So there's several advantages first you can say goodbye to being reliant on the US Postal Service. Goodbye to delays in the mail and no more need for paper check right where it's really a laudable needles don't even have a checkbook we're getting that all the time lane or who call in and sign up because if Pennington saying you didn't check the it witness really starts to get funnies when you if your landlord in you have. Multiple tenants living in units grad students the university. Well right now they're all writing multiple checks and sending them in and for a landlord that source become confusing pain in the neck. So would you rebel do is you'll actually deputy each tenant can individually batch it intent one payment for that unit to landlord. And then of course there are some reports in notification that all of it great stuff. But going back tier question Condo association's a lot of Condo associations have been using human as well because the Condo payments that kind of future do every month at the scene. So they've been signing up and there's a version of the rent for condos. I'll be darned well sounds like something that you need to learn more about folks visit. Zebra dot net to learn more that's the website address or call them at 8776917900. Toll free 87769178900. Why collect your rent or your Condo fees with paper checks get with the modern age go to see rent dot net or call the toll free 8776917900. Security suffered two securities America team members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Armstrong. So I'm. Bringing you the best in business and financial news every day. This is the financial exchange radio network. We learned earlier that Americans are working later in life more today than any time in our history. We're joined now by Steve Richardson from the department of Social Security. For conversation about our Social Security retirement benefits I Steve are you well burial real good happy Monday. Steve do most Americans. Still collect their Social Security early. I think if there's been an audible once studied a lot of statistics that have been out there and what I continue to see every year is. More general questions when general other you know week week applying going early and time between. Age 62 through 65 and eleven months 65 and twelve more bump into what for retirement age we see. About 74 of America report percent rather of Americans taking benefits at a reduced rate. You know eight EnerNOC you have access to some information are they taking a bit. Like 65 and eight months of the taking units 63 are they taking this in his weekend at 62 would you see. There is some statistics out there regarding folks that duplicate a 62 which just over 41%. Of Americans are taking it jet that sixty chilling you know is low like 62 the earliest you can go. But talk concept of you know individuals driving at an earlier. Page earlier in the short term needs they're gonna lock in that he permanently reduced rate. What at what is the penalties if if my full retirement age is 66. In a bomb in that 41%. That collected sixty two's early is again. How much of a reduction in my benefit in my taking. It's a 25%. Reduction. And it wouldn't changes in the law that took place back in 2010 regarding. The do over the the buyback might again right prior to December 8 20101. Could draw it 62. And then at 66 walk into their local Social Security Office withdraw their claim. They get everything we paid them and and file again later in life pretty. Higher on reduced late yeah defector 1282010. And we put a one year period that you that twelve months to change your mind. OK let's let's go under the assumption you collector only at 6263. And you're getting I don't know retirement benefit of caught 15100 dollars a month. How much are you allowed to earn. Say get a part time job at Home Depot where you're working part time as a into over driver. How much in my allowed to earn without decreasing net 15100 dollar benefit them receiving every month. Yeah the 27. Earning limit. 2017 rather he is 161920. Dollars a year liberals say for every two dollars you earn over that amount. We'd take one back and we take it back by not paying you benefit so what a lot of folks you know and fail to understand about this particular. You know Lawton and that's on the books is not they're basically running the show you tell us what your earnings are going to be you estimate. What you think your wages will be it will pay you accordingly. Do you happen to know how many people are actually doing that they're collecting at 62 and working part timers that statistic come. Beyond your you means. At this point it is I don't have my fingers on those numbers right now accord if you quite a few people take advantage of the working collecting but I understand. 169. Of the thresholds for an individual who is under their retirement age and want to you know collect a very very low. Well Betty I've just thinking like say you're getting you're in that category 15100 dollars a month and then you get a part time job at Home Depot. You only work and 1015 hours a week that might be about as much as you make. That's right yeah and it's sent to a lot of people think they find that attractive then later in life and their you know early sixties. Steve the status of the Social Security fund. Last time I talk to you it was gonna run out of money in 2030 something. What what is the status of that fund lately and I. When will they not have enough money to pay my full retirement benefit. I'm glad that you're acting up there because where they're at the annual trustees report is is due out. Any day now all I'm giving up last year's you know economic health of Social Security trust fund and the world last year's report which is what we know. It's the page ecosystem so workers of today paid the beneficiaries of today. So what's the whole concept of when one thinks about the so security trust fund that they will. You know the go broke me he really not the case I mean as long as our workers. One of their workers paying into the system below that would benefit paid out however what we see right now based on last year's trustees report was effective. January of 2035. If nothing is done in congress no changes are made they'll only be enough money coming in to pay about 78%. Of benefit out so again the benefit don't go to zero. Don't be a reduction if nothing is done. And at some point between now and 2035. It's reasonable to assume. That they'll be some modification to the Social Security program. Well I think let's let's talk about all of 2015 when we saw those two claiming options violent suspense right now and the restricted application results in changes in the law there. But I I think that when I posed this question and you know and I'm often those that do is you know people really need to take a history lesson and go back to. That they have an interest in this 1983. That's the last time we already sweeping. Sweeping reform. To this'll security program will be raised the retirement changed. Great week week act so security income. We the eat you know there was this we raise the like a tax rate this is somebody bank that bet that you know congress will look at and you'll leave the same. Type of exercise. They'll perform going you know been in the years forward. Are with Steve thank you very much for your time we appreciate it Steve Richardson you heard from the horse's mouth department of Social Security. As of the old planet and will get new updates when the trustees' report comes out the 2035. They'll be enough money trucked to pay your parents 78 cents on the dollar pay my parents 78 cents on the dollar. Come to think of paying me. Because I'll be collecting social security and there's only tenth on the all welcome well I think what it means news. They're gonna they're going to be changes. EEE. You know let's talk about the different. Ways you addresses you raise the payroll tax rate. Yet it there's there's three different levers that you can pull you can raise taxes you can cut benefits and can change when people are allowed to take them don't the three that you can change. In general what probably works the best as soon no one is hit to unfairly because. You know each of these affect different groups of people if you raise the age too much and you really heard a lot of the guys who were out there working as construction workers because they can't afford they can't get their bodies aren't physically you're not gonna work to the towards a 6760. America if you raise taxes too much OK you heard a lot of low income workers because they're seeing more and more money taken out of their paycheck and if you cut benefits too much. You really hurt a lot of people would planned on having them money there. They are able to get what they what they need in order to live because we know that for a lot of people about 40% so securities all they get. Do you think they lift the cap I think right now they cap you in terms of Social Security payroll taxes about a 115100. Point variant so I'd I don't love the idea of lifting the cap bouquet just because historically with the way that works as you lift the cap but you also lift benefits okay. But if you do that it's just push you know really do well not really the truck is if you look at the benefits like somebody who's making 120000 dollars a year yet. Retires with a much lower percentage. Of their earnings for in somebody's making 40000 dollars a year maybe that the play Social Security's actually pretty good deal. If you're making 4050 grand a year the issue of the retirement benefit. Darn it I think I'll tell you right now it's a pretty good bit and maybe that's something that you do is you raise the cap but you also kind of tiered a little bit I mean it it does getting to income testing somewhat. Not a fan means testing on it just I don't think that's that makes sense to not with the program was you know set out and do but I guess if you're looking at it from an income testing perspective. A more comfortable with that the needs to. I'll be curious to see how it's dealt if you know the the probably half is you're down now to what you got an eighteen year window. To deal with a pretty big issue right and the longer week the closer we get folks to that 2035. Deadline. The more painful the solution is going to be an idea I think it this is where I get critical of our political leaders on both sides of the aisle by the way. This is something that probably should have been dealt with back in the 1990s I've been happen about it since then. And every year that we failed to deal with it. The pain of making up that 22% deficit just gets larger and larger that means that people who were working. You know five years from now on ten years from now on fifteen years from now the penalty but the delay in dealing with this issue would just get more Morse of its. Hard to do now you can raise tax by half percent in bulk the eight by a year and you pretty much get about 80% of the way there yeah like it's it's not a big you don't have to do a tone. Hey we've got trivia. Coming up next from our insurer match dot com city. Making your Smartphone even smarter I don't know mobile lab by surgeons financial exchange shelf in nineteen Jordan who. Who played stores this is the financial Lidstrom radio network. This is a special announcement for a landlords chasing down lead rent payments and making trips to the bank to deposit checks take a hassle out of grant date -- zero and leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit www. C Rand dot net to learn more would you read your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot -- to learn more or call 7816418691. With the market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is very Armstrong and I'd like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock but they each have different characteristics preferred stocks for five investors with a share of the company's ownership but the air typically purchased when they focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market called now 803934001. To get my free guide to understanding the basics about preferred stocks that's 803934001. Or you can download the guide right now at financial exchange show dot com. Security suffered through securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your financial strategy has to include a thoughtful insurance plan. Insurance exists to protect your assets. Our friends at the insure -- -- agency can prepare personalized plan that gets you the best coverage of the best price color insure a match at 84499. Match that's paid for for 99 match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers at 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Laker bella Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com it's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a pastor closing calling 8776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Time now for. Wall Street watch a look at the market's performance so far today but I do Berrian jug right here on the financial exchange radio network. It is time for Wall Street watched were joined by Mike Armstrong you're bringing up to speed on what is going on out. There Mike thank you for joining us. Mike energy down again today oil was down 4% last week. It appears we're seeing some continued pressure on the energy sector. Yet leveled off a little bit today by it like you mentioned oil was down nearly 4% for getting it again you know down to. Below 45 dollars per barrel were getting pretty close to those lows that we saw in. Over the last couple of years and is doesn't really seem to be any upside is that at this point. Let's turn over too well one of the few companies that is moving around today it's a pretty quiet day overall. But caught corp holdings small company only a billion dollars up 30% today why is that. Yet big Issaquah corpus or the largest golf course operators in the country. Based on the ballot in it's been a mixed sort of I guess few years after the gulf operators in general. But this big news coming out that. Apollo global was purchased them for seventeen dollars share that stock is up over 30%. From where closed on Friday though it is important to note that this is a stock that peaked out back in the summer. Twenty dictated over 24 dollars a share so might be argued they're getting a bit of a discount on the stuff. Very good Mike thank you very much for the time. 213. Years ago this week vice president Aaron Burr. Fatally shot his longtime. Political antagonists Alexander Hamilton in need tool. Held in wheat hawk and New Jersey will be asking trivia questions today about Alexander Hamilton. Which government post did Alexander Hamilton hold during George Washington's administration. Our text number is 68681. Listeners to correct answer wins it 25 dollar gas card. Which government post. Did Alexander Hamilton hold. During George Washington's administration again the tech's number here in the studio is in fact the 28680. Men and Republicans. Are the best tempers but stressed here. Yeah this is a fascinating study. It was done by the up Princeton survey research associates international. And what they saw was that the average man rarely took about 20% now OK the average woman tip 16% that's the media that you see there. And what you also see is that Republicans and north easterners all leave kind of right around that 20% level. As well. I don't know why this is how the millions of shaking out but this is the data they collected and the what. What I think a lot of people were kind of surprised that in this overall. Study men with affected so many people were tipping above 15% to begin with you know it's it. How often do you feel uncomfortable about how much to you know that there's a lot of situations where you sit there and you like let's services that I don't feel comfortable at all but let's better tip but let's not even talk about you know restaurants that little the other situations where you don't know how much to tip you know. You year handing your guys back at the airport llamas to like tip from now is it inflation and it's five dollars is three as to what what what why give them. How much per night do it to someone when I'm staying in a hotel for me I was so that's one that I think a lot of people don't tip at all it who tell me and I really it's. That's a new thing that's they. Thirty years ago truck he'd never you never. He thought about to pay to see this is one of those things like how much should you do you know. But now it's it's I guess it's and then you go to different countries and there's different customs there it's you don't tip in this country because they get offended by the need to in this country because if you don't they get a fair it's. If you're stressful for me it's in its is stressing. Speaking of stressful. Lack of visa workers has the heat islands how hotspots in a band is this article in today's school. And I can tell you it's not just the KP blew up today where you're just up in Maine and yeah Hampshire. You talk to you got problems run in restaurants up there. And or down on the cape Boren in Rhode Island in new port Jamestown there of and a heck of a time keep their doors open. Yet this is all due to change in the H two B visa program this is a visa program for low skilled seasonal workers. And what they've allowed previously over the last couple years. Is it allowed people who have been in the program in previous years to just roll there's over kind of add on additional pieces as they go. They got rid of that this year and limited it to just 65000. Of these H two B visas. There are going to be more of them coming on line in the next month though. But on the paper on the main post. That's kind of too late for mean your money is made dying in July I really mean that's that's kind of big time for you so. You know it's it's great that they're trying to fix it but it's too little too late for a best they can hope for next season. Yeah I mean it's just you just hope that they get it fixed for. Next summer as we know we've seen the data that you go back 25 years. And the number of high school kids that we're working these are the kinds of jobs the high school kids used to do you know your bus boy you're you bussing tables and things like that. We have 65% of high school kids who had summer jobs today it's down in the thirties. There's another reason as well and I think it has to do with openly addiction. There were we we've talked about the labor participation rate for. People 25 to 54 particularly men if you look at labor participation rates 2554. For men. Back in the sixties is basically 99%. If you're 2554. Years old you were working. Now that number has dropped way down. And we've learned that there are one point eight million workers that are out of the workforce and talking about that critical group 2554. We've also learned track that 881000. Workers said that they had taken an OP lead the day before. Yes so it's up about half of those workers that are out for other reasons meaning they're not retired and not in school and not disabled okay. Half of those workers that are out there drug had reasons they're out largely in part of it is that they just kicked it into work because they're auto dealers you know and in. And this is again we we talk about the scale that's the problem and we we've never really been able to figure out the numbers until now we think about all those guys are running restaurants on the date they hire them. Right but they don't shall. Yes or the shortest a few days then and then they're out the third day you know it's a abdicate their higher if you got a pulse the higher. Oh yeah I mean all you need to be able to do is show up and carry things that it it's it's not a complicated job you just need to be there pretty much. And unfortunately but this is telling you you've got about a million people. In the country a million people. That are taking hope Hewitt on a daily basis and because of that to knock it into work. Cushing and all during the month of July is offering a free guide it's an operational guy to like the states as opposed to irrevocable trusts. How would you rather protect your home from a nursing home. Well if you like a copy of this guide you can call Cushing in Dolan told free. 8668485699. That's toll free 866848. 5699. You can also download the guide right now if you want the guy you know wait for arrived in the mail. Good to legal exchange show dot com. To guide. And it talks about the differences between like the states and irrevocable trusts. 8668485699. Or legal exchange showed dot com. We've speculated that many of the sales of test those were related to the tax incentives. And you know the tax incentives here in the United States are robust. There even more at least they used to be a lot more in Hong Kong. But Hong Kong. Eliminated the tax break and it had a devastating impact. Sales of Tesla cars in Hong Kong. Yeah and and it realize that the the subsidies that Hong Kong was giving or electric vehicles were this high but. With these subsidies they had previously given in Hong Kong the average cost of a Tesla model last of their basic four door car. About 75000. After all the incentives and Hong Kong gave. That has now risen to a 130000. Dollars so. I didn't realize they were giving almost 50000 dollars in incentives over there well I I don't know if I mean they were I mean as that that's what the math works and I know lately and that those cars are that expensive like if you go and look and name model laughs that you would want. You know that you wanted to price them out like 1151154. Sales tactic won't keep in mind that's just in the US he that you got to include all the shipping over to Hong Kong because they're all manufactured in California right now so you factor in that plus the fact they're gonna tax you know the important export. It makes sense that it ends up that expensive but I just you know I find it amazing. That you went from having you know almost 3000 of these registered there and on. Well today Tesla had a bad equally route and me they're suited their stock drop down almost 40% in its down 309 today. And they're just starting to deliver the moral victory that they delivered the first one over the weekend. But they've got to deliveries scaled that they are committed to an action against him. I don't think they can what they're talking about trying to do the talking about trying to do it the first month in July. They wanna deliver thirty vehicles not 30030 vehicles he says okay that a model three the model three okay we're gonna as the chief ramp up gradually. They're trying to get up by this December so for five months from the trying to get to 20000. Of those vehicles a month. They haven't done 20000 total vehicles in the quarter to this point so. I think are good looking car the signer he sought after and but the model three. You know the we're doing a segment on the Chevy bowl later. Model three looks a lot better this show people that they're good looking cars and in the question is can you produce 20000 of them. It's can you produce 20000 of them in a month. Without defects without problems because like anything you make a profit and it would in turn will it be nice to make a profit. It's I am I am very very skeptical. And right now and we'll see you know wealth is coming out with a new electric car and seen it yet but Nissan leaf. They've made them along going to be new leaf there's going to be a new leaf coming out the eighteen model and it'll be released some time. Will get picked I mean scene picture of yet I look this morning that the new Nissan leaf is supposed to be coming out. In July will get a look at it but did not yet and seat could end up having three competitors he of the Nissan leaf the Chevy bolt beat. And then the Tesla and the model for Tesla you gotta be careful about hoping the other leafs over you do it's called turning over new leaf. Come on. Our eight up next move will be a crickets. If not Aetna Aetna. Next will be joined by Christopher frogs from morning star he'll have a mutual fund to share with us we'll also have the answer to our trivia question from our insurer matched up on studios. Trump's first 100 days didn't pass any significant legislation. But tax reform and Health Care Reform are still on the table. We'll either pass before the end of the year keep it here with the Berrian chuck for the latest on the president's agenda and how the markets are reacting this is the financial exchange radio network. Many of you listening today are probably retired are getting close to retirement age so have you taken time to think about what happens if you or your spouse gets sick and needs nursing home care hi this is very Armstrong with the question what would you do if your spouse didn't have enough money to live on because you were in a nursing home and depleting your assets like tens of thousands of dollars each month how long we Germany last if you share these concerns that I want you to call Cushing and -- and they've got a new guide out this month that can help educate you on how to deal with this problem you might need a life estate or your hope we'll trust which one would work best for you give the experts at Cushing and -- and a call and let them help you create an estate plan that will not only protect your assets from a nursing home but it will also help your family avoid probate and potentially eliminate estate taxes call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange show dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer manager agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance and continued time stress the money we've just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. Hi everybody it's Berrian Todd with you here with a quick tip from the legal exchange showed dot com and Todd I wanted to talk to you about the five year waiting period for Medicaid eligibility. As it applies to the use of the medic and like the state so let's say. I Cree act. Give my house away. I give it to the kids. Does that five year clock start taking if I'd done elect the state yes so if you take your house and many people do this if you take your house and transferred to the children. And reserve the right to live there you know does that create a five year Medicaid I would absolutely and that's the definition of collects it right getting your stuff away give it away but you you do reserve that right to live there so that's at least something that you're keeping which which is certainly helpful to you who has to pay the property taxes and maintain the property. Call the property taxes and maintaining it is all done by the lifetime and you know. But I I want to stay on the five year waiting period just for minute because so many people think that it doesn't apply even to the like the state arrangement like you mentioned very. And also too when they make you hear people I can give 141000 dollars a year away because I I can do that and not pay any gift taxes that's true. That's an IRS regulation. You'll pay any gift taxes but she will have a five year waiting period. For Medicaid eligibility. So it does apply. To almost all transfer some. Including. A life for state arrangement so yes it does apply folks Cushing and Dolan is making a brand new guide available and it's very helpful for those of you who are thinking about giving your house away using like the state he compares. The advantages and disadvantages. From a life of state to a herbal global trust the phone number to receive the guide. Is 8668485699. You can download the guide right now. By going to legal exchange show dot com or call toll free 86684856998668485699. Stay on top of breaking financial news by becoming a member of the carries per game. Log on to financial exchange dot com and sign up today. Alexander Hamilton served as the nation's first secretary of the treasury from 1789. Until 1795. During the revolutionary war he was an artillery captain and aide to general Washington Hamilton was the president's confidant. And helped direct the formation of the American system of government. What are on this question today is Bert from Rowley Massachusetts bird is taking on May 25 dollar gas card to gulf. As his prize we're doing now to Chris for Frans for morning star here to talk about a mutual fund on a mutual fund Monday Christopher thank you for joining us. Crisper we're talking about the jitters Henderson small cap value fund. Can you talk a little bit about what this fund invests in and why it stands out Tia. Yeah absolutely agent market. Formally known as perkins' market. Boutique beat Chicago Perkins investment management and what lightly like this on as a performs just expected. Let me but defunct because I called baseball cap companies with. Strong Asian teens stable Balanchine durable competitive it is but. The important thing to note that the but he is as deep value fund so it used to get aren't buying stock acutely because they looked cheap but are always analyzing it. The law before content and until kind of. I'm so and so looking at this fund does tend to be more or less volatile than the average small cap fund. So it lost all currently because. You know what I would like this but that does better down markets and really adheres to a defensive value approach to a community. On ministry managers belongs to which state back in 1987 we've seen a lot of sets of market. Bit I'm markets which he. Overall equity market terms prevents oil market is down below 5%. Or mentally market. Or a market where index is up over 20% and they really wanna help. Reform in the market. Arc is meddling in CNET you know they perform better 2008. What fifteenth. That their peers in the index something that is cognizant of that we worked with. But looking at the other companies they've Biden they tend to focus just on US companies or are they buying companies across the globe. It's largely domestically oriented on the opposite now you know companies are going global revenue and it ain't. India or the resources and income comes from but in these guys. In. And has been largely been focused on small they are at now. As the do you know it is stellar growth over time you know their preference or you know dropped potential generators ought to balance sheet has capital into the queue in as ball style locks. What we typically think about value stocks a lot of times people think of you know you're born stocks with decent dividends you're small cap value needs typically are putting up much in terms of income though correct. What's the what are the expenses that someone has to pay to be in this fun and a small caps are typically a little bit more expensive than the larger companies. You're still another reason like displays at that point did you concede that works for the benefit of circle herself militant. Let's return three year basis person's outlook to doesn't buy an index it will go up and down maybe fifteen basis points above or below base rate. So what aggregators Niger classes of those on which is. Good Berkshire owns trying to get access our planet institutional account so be it an aggregate those fees could not be. Below average relative. Here's it is fun pretty much work this is a nice supplemental equity holding for most people in their portfolio. Correct we would view this as a supporting. Keep in a portfolio again. You know if the market for example last year wrestled do I was up almost 32% the thumbs up 26 and a half. That we would credit you look at you elect this year through June in the market is flat on a 4% though. Giving up so I outside of. Born outside protection is that here. Good Christopher thank you very much for the time. Christopher frost for morningstar's talking about the Janus Henderson small cap value fund. And the ticker on that if you do want to do little digging on your own. Is JS. CO acts we open up the show with a conversation. About retirement and how would disproportionate. Number of Americans are continuing to work beyond age 65. Is not effective a lot of Americans working Biondi seventy. Right now there are 32%. Of our Americans that are between the ages 65 and 69 who continue to work. And you put that in perspective by looking at the number was back in 1994 it was 22%. In 1994 and today it is 32%. We asked the poll question which is will you work past the age 65 now this is exclusive to our audience. But 86%. Of our listeners are saying you know on the keep working. Past age 65 only 13% saying no what's interesting is that you see that many people saying yes to us that the data doesn't bear that out. You know it's usually Havel about a third or so. But keep in mind you know I I think that overall. And you may have the mindset you might be. 57 today picking Leah I'm gonna work past 65 at the end. What happens I think chuck is you look at what you can get for work at 66 to maybe say no not worth it yeah I've got enough money and the job is beneath me and Emma and yeah I what I wouldn't be surprised if you see that happening there. I think overall the trend is gonna continue towards people who were working longer is I also think that people. You know we've talked about the people who need to work yet because. They simply don't have the means to retire but I think a lot of people who do have the means to retire still worried about out living those I think a lot of people that the means to retire. Yeah there wealthy and have done well and they just enjoy what they're doing. You know when I talked definitely some of that I see a lot of people typically get and I look at your mom and dad my guesses I've looked at their balance sheet but my guess is they don't have to work. They're probably working as they enjoy it definitely think they are still there like to do something Indy people like talked in the medical profession in particular. They continue working people in the investment business IC people. I've got Pearson in the investor business that are well into their seventies that Warren Buffett how does Warren Buffett ECU 586. He's still going strong with Charlie Munger at this point he's into the 9293. Men. Now are among his 93 years old and still goal and do the opposite yeah I mean they. You look at it depending what you do now if your pipe fitter. You're not going to be going to the officer and no you're not. You know and that's that's a big part of the difference will you work past age 65 is our poll question today can. Participate in our poll by going to our web site which is financial exchange showed dot com. Chuck is back from vacation Tucker's back from getting married. And we'll back for another hour just couple minutes remark sure match dot com to. With the market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is very Armstrong and I'd like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock but they each have different characteristics preferred stocks for five investors with a share of the company's ownership but the air typically purchased when they focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market call now 803934001. To get my free guide understanding the basics about preferred stocks that's 803934001. Or you can download the guide right now at financial exchange show dot com. Dirty suffered through securities America incorporated member finreg SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FTSE equal housing lender and Miller number 449250. Subject to credit approval leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends and being sure mention agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's say 4499. Match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers late you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry like your bella Plymouth rock and more. Their license for all types of insurance can continue time stress the money we've just one phone call and one relationship. Called today. That buys preferred stocks that very few individual consumers and investors buy preferred stocks. A lot of people just don't understand what they are that's where we're having a conversation with regard to preferred stocks. What makes chock what makes a preferred stock preferred an amusing air quotes. One of the biggest things is that. Preferred stock owners tend to were rather are required to be paid. Before common stock owners both in the case of any bankruptcy but also in the form of dividends and distributions so would it does. Is it puts you ahead of the common stock holder. In the overall corporate value chain. All right so if that is something were to go wrong with that company there gruden go bankrupt I often think about Wells Fargo right if Wells Fargo were gonna go. Out of business preferred stockholders would get paid before common stockholders on any company rated fuel per purchase now. Not that many companies actually issue preferred shares. Not that many do it's it tends to be typically financial companies that do they typically do it is a way of raising cash without deluding common stockholders. But the benefit of this is that those preferred stocks typically pay out anywhere between five and 8% and as I mentioned. That distribution has to be paid before the common stock dividend so once again it gives you a little bit of a leg up in terms of priority to collecting come. Would you like to learn more about preferred stocks call my office 800. 3934001. And receive our guide to preferred stock. The phone number 803934001. Or download the guide right now at financial exchange showed dot com. Pull free 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services offering to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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Many of you listening today are probably retired are getting close to retirement age so have you taken time to think about what happens -- you or your spouse get sick and needs nursing home care hi this is very Armstrong with the question what would you do if your spouse didn't have enough money to live on because you were in a nursing home and depleting your assets like tens of thousands of dollars each month how long would your money last if you share these concerns that I want you to call Cushing and dole and they've got a new guide out this month that can help educate you on how to deal with this problem you might needle like the state or an irrevocable trust which one would work best for you give the experts at -- and -- a call and let them help you create an estate plan that will not only protect your assets from a nursing home but it will also help your family avoid probate and potentially eliminate estate taxes call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange show dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. If you're real estate or property management company you need a banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and we'll see space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as he CH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has -- -- -- business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies -- leader bank as their banking partner or call 8776917. -- 900 or -- BBO -- -- -- dot com for more information member FDIC equal housing -- This is the financial exchange with Barry Armstrong and sharks are. You're exclusive look at business and financial news affecting your day your city. Stay informed and up today about the economic and market trends plus get breaking business news every day it's. And now the financial exchange with the Barry Armstrong and chuck Exxon. Part of what we do as broadcasters. And investment advisors as we study. Trends and statistics. In one trend that has really changed in the last 24 years. Is that of people working beyond age 65 hi everybody it's very truck with you here on a beautiful Monday hope you're having a great day. And the trend that we've come across is back in 1994. 22%. Of Americans ages 65 to 69. Were working at least on a part time basis they they had some meaningful amount of income. On and they may have been working part time. 1520 hours a week at Home Depot or they may have been working full time as a doctor to local hospital the number was 22%. Back in 1984. Today. Just 23 years later that number has gone from 22%. Of people 65 to 69 working all the way up to 32% almost a 50% increase. Yet continuing Q what increase there and I think a big part of it is that we do have people who are less prepared. Two while retire at this point so there having to work later. There's definitely a subset that wants to continue working but one thing we'll go back to the preparations that statement because I just think back to. The early ninety's. A lot of companies the Ares still had pension plan it's like if you work for war. Verizon's I exactly where I was gonna go yeah I worked for IBM where he worked for ITT your General Electric in these big companies track. They may have stopped their plan or they may have been in the process of stopping their plan but they now is they're gall. And I think that's a big thing is that you have Americans to for the first time the generation that is starting to retire right now. Is the first one we've seen the majority of them not having that defined benefit plan not having that pension and with that. That'll scare because used to be look he retired from G and he said hey I've got my pension of got national security upset I whatever state and whatever I say no need to work. Today it's what got my Social Security that's not enough to live on and I've got would have saved we know Americans don't have enough there but so. All of a sudden you see more and more people that are having to work I think and because of that I think that is a major contributor to the increase in the amount of people that are working after 65. Now the other thing we may be learning chuck is just how severe the damage was news from the crisis of 2008. You you may have had a lot of people that survived that crisis by reading their retirement plans in other words they were able to pay tuition bills. They're able to continue to pay the mortgage. But in order to do so they had to empty your 401K plans in the head and the out there diaries. So now the other 65 or 68 to seven years old. But they don't have the retirement plan because they spent did eight years ago. Yep it and what's interesting is that this is from my 2013 so this is data from a few years back but he gives you a little bit of an idea. Just how bad things work fifteen point 4% of Americans. Had zero retirement savings or pension in 2013 yeah okay and and that's age sixty or older okay. Between 45 and 59 point 3% of people that had no retirement savings or pension C talking you just relying on Social Security in and we know that's not enough for a long live here in the relying on Social Security it's going to be pretty tough to use for you to maintain your poll you're going to be living in public thousands of depends what this ports the country that you can get apply now you know that there's parts of the country we're now working where the standard of living if you own a home because keep in mind. The northeast is ridiculously. Expense I just weird that property taxes the maintenance costs so here's the thing outside the northeast property taxes are much lower there are a ton of places that you can go really can pay 1002000 dollars a year property taxes. And that's it wears appears say. How do you do that. But you think about that term view let's say you're living on a 2000 dollar month Social Security check yet and even if your property tax Earl only 2000 dollars a year. Something major goes wrong with that house or your car your help no doubt about it and and you are really not a good place knowing you're not yet anyway our question today in our poll question today and our website which is financial exchange showed up on the news. Will you work past the age 65 now perhaps your 68 you're still working while trying to participate in the poll. The numbers quite remarkable vast majority of our audience. Is either planning to work past the 65 or is working past the age 65. The number slanted in that ED tweetering drew you to participate financial exchange showed dot com to participate in our poll. He'll laying ceremony at quonset marks the start of the new submarine that's gonna cost about two point seven billion dollars. It won't be delivered until November of 2019. Yeah this is the twentieth Virginia class submarine is being laid down now at electric boat. And this is going to be named the USS Oregon and it's expected to cost about two point seven billion dollars. In order to put this this vehicle out these of Virginia class submarines they started building them the first one was commissioned back in 2000. And there are currently thirteen that have been completed there's another seven in production at this point right now in these are expected to serve until. 27 decent about a fifty to sixty years service land. Depending on the exact commissioning here. And these really are the replacement for the seawolf class which is only a couple vehicles. That was replaced in the Los Angeles class which formed really the backbone. Of the US submarine fleet through much of the 70s80. And nineties interesting that a lot of this work now he's shifting to Rhode Island me the U lot of used to be done in Groton Connecticut. Morn Morgan moving to Rhode Island because Rhode Island is taking an active stance in training workers either converting community were all guys. India to worker training facilities. And so the game what you're seeing is electric boat doing more and more of this work. In Rhode Island as opposed Connecticut and you know one of the toughest things is for finding workers for these these submarines. He is being able to get in the right security clearances because jobless now it's very difficult to find people with these skills they can pass the background checks that you need north Smithfield is sell out your foreign born odor to it this this is some I mean you are going through a hole on. Of background checks estimate you know it's who do you live with for the last twenty years pretty much. Because again you talk about some of the most highly guarded you know intellectual property in the country. His visa Europe on your first on defense either of what it is. City of Hartford has hired a law firm to consider a bankruptcy filing will be the first time that a city has gone bankrupt but it's never pretty when it happens. Yeah and Al Horford currently has a deficit that's approaching my fifty million dollars. And is asking the state for help of the state of Connecticut this angle we can't really do it could you know we kind of up a problem of our own to the tune of five point one billion dollars over the next two years. So they are Hartford. He's starting to poke around about eight. Does it make sense for us to file for bankruptcy. In order to get our fiscal house in order what what do you think in terms of them doing that is that something that. Is the best move for them in terms of being able to deal with the problem and move forward or do you think they should try. Other means at this point just tried to get out of some of the issues they've dug themselves into and you always try other means first yup but the fact that they hired this and I know this offer and they if they hired this law firm they're going bankrupt. Right. They eat you know the problem happens. The there are pensions fixed costs related to health care and pensions. Is killing them there I I've looked at the financials on this deal. I don't see how they cannot go bankrupt yeah event back I think is in retrospect. It in five years ago and say boy we should have gone bankrupt in twelve or thirteen. This Connecticut they tend to put it off to how does Connecticut shake up it is stacked up in terms of view with some states and cities and there's no ability to change anything on this pension costs Illinois ran into that a few years ago when they tried they agreed with the union. And the State Supreme Court shouted down to Connecticut the same issue they are. Maybe they're gonna act of the time which just. Make you worry for the city park leave because they nears CEO is that if you can't you can't lower expenses. Then what do you do you raise taxes low businesses are already leaving Connecticut because taxes too so. There next governor is gonna have their useful in Connecticut. Tucker is all excited I don't know if he gays can tell that I'm thrilled to prime day Amazon prime and I added 9 or 9 o'clock it's dark it's a thirty hour program so sexing up pride day it's primed a in any. Yeah then another on when it starts today doesn't really end at 9 o'clock eastern it doesn't really end until 3 AM on Wednesday correct yeah I just wanted to mention this team because say you know yup you're. We would you can buy with what's on your shopping you know I don't know if something's gotta pop out of me you know by Amazon they've recovered last year they had a lot better deals than you know what to the next two years ago or ever was that bristle lead. Available deals and I think they're gonna really up and again this year so I'll be refreshing my app might Amazon app throughout the day I'm looking for TV. I could use TV actually for TV minds about eleven years old my mind Stan I'm hearing predictions that there's going to be a lot of Grotrian items. Yeah I would SpinRite trying to. Unity there they bought whole foods they haven't closed on that DeLia right they're trying to build up that sure Amazon fresh yeah network so you may see things on there. That our food related if you haven't seen it. Yeah I've heard a lot of hope after I've heard a lot of writers you're you're hoping for data to oddly for a bargain of it I'm actually out of completely exhausted. Out of my potato chips did you talk along line to. No I go to beaches from you go to be just to build trusted me they'll. I mean it would make sense for Amazon to a dive right in the prime day with the grocery deal all all obviously because the whole foods things to break out and going with a bang. You know if not this year certainly next yeah I think they'll do this year. We will see we will see. Amazon prime is becoming more popular than cable TV. It's 79 million US subscribers. Now have names on primary and actually they are pull questions give you an answer for a given name is in your household is. I have it and I might my wife uses it and to myself and use it. So I feel like there's light show airing audio laud him so you look at that tell them don't use my credit partly just from that it's eight billion dollars in revenue year. Billion dollars in revenue year they're gonna have war subscribers in the sub prime in cable TV ads. Soon I I say this again I am an Amazon shareholder. But I don't see how that doesn't run and all kind of antitrust probes like that they have more subscribers for their service than there are. Not not yet but almost more than their cable TV subscribers and we know that the cable TV companies get pushed back and they are stuff now. He did he is dying toys and better service our programs on communicate better I don't deny it but. It better able it doesn't feel right get better cable on. Car a fill affordability. Is our next topic will be joined by clause bill for Bankrate dot com how much can you afford to pay for car. Depends remarkably depends on where you live that's our next story for march or match dot com. The debate over tax reform and trump care rages on not very in charge of the latest on how any changes may have faked your portfolio for your financial strategy only here on the financial exchange radio network. With the market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is very Armstrong and I'd like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock let Pete each have different characteristics preferred stocks per five investors with a share of the company's ownership but the air typically purchased when they focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market call now 803934001. To get my free guide to understanding the basics about preferred stocks that's 803934001. Or you can download the guide right now at financial exchange show dot com. Security suffered through securities America incorporated member finreg SAP c.s and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry like Orvella Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com. Markets continue to fluctuate but we've got you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. Plus fell from Bankrate dot com joins us now here to talk about. Color affordability and what it means for car to be affordable in different markets in the US and cause thank you very much for joining us now. Cost me talk a little bit about the study that you did at bank rate and really what it's trying to measure. We wanted to understand was whether it at all old and a major market would be able to comfortably afford. Two over par and so we looked at things like coastal and come and taxes and insurance to try to understand. How affordable overall car would be an. We want to focus on real portability so it would typical household be able to afford a car if there were taken out. You know oh alone that lot that no longer than four years putting down 20%. And we're having that car. Loan basically take up you know come percent less of it come when you took into account insurance. What you end up finding in terms of the types of cities. That had the highest car affordability ratings. I mean obviously I comes that you did better here you know it did in. A market where it's apostle has more and come obvious that the price of cars and Israel Italy content across the United States so. You know more money in the couple pocket means that it's more able to afford a course. Though he got. What do you find in terms of by the role that taxes played on this how much to sales taxes vary between the different states and how much they affect us. That OPEC is actually matter you know quite a lot usually those are rolled into the car loans that and you have to take into account to buy car but unfortunately it I don't think most people do. But yeah without a wide variance. So you know looking at at the Boston market. You know they they take into account you know New Hampshire and that kind of outlying area you know there are opportunities the other cars with wrote Lou they'll act. You know ought to have local car insurance rate also which which factored in. What it what you find in terms of how much people pay for cars vs how much people should pay for cars. Yes for the national average. Transaction price. About 33000 dollars a little over that hump but you know unfortunately that that it's really not an affordable price for vote helpful. Province of people how people are corporate and I captains are getting longer and longer car loans which been more interest and it being underwater on the carpet for a great period time. Looking at. The the different markets that you have fear. You've listed 25 different ones. Miami came in with the lowest affordable price of just thirteen 100576. Is that pretty much all due to low income or were there other factors there. Well Oregon has the perfect storm. Locally by they'll faxes and I'll have really kind turned it. I actually live in South Florida so I can attest to that bomb and and so when you put all the things the other portability really difficult here unfortunately. You know that that affordable price that you allude to is actually less than the average prices of even used course so that's gonna you know present some significant charges for people. How much do insurance costs vary on a state by state basis can you give us breakdown of some of the highest ones vs the lowest ones. Yeah it certainly. So you know look at annual insurance costs for basically. Comprehensive coverage you know in the Miami Orlando area 2000. 100 point nine dollars a year. Media almond Boston. Contrast that it is just over a thousand dollars a year or so. You know that they're really the big variation there. So this is one place where Boston actually is not the most expensive thing for once. Yeah I mean you know that there's a lot of actors Dakota wives you know cartridge. Very much. Local regulations. You know carpet parade. And you know you just basically you have enough the number of cart sent to the so. A portion of those things kind of inspired it the question Carter straight in places like Miami and Detroit. Much higher. Very good will cost thank you very much for joining us we appreciate the time he spent on the study thanks again. Thank you that is cost bell from Bankrate dot com 2000 bucks a year. Archer that is. Absolutely crazy mean think about it though every. Bad traffic story that you hear comes from Florida like every bad traffic accident you know it's I don't follow them anything bad that happens it's usually Florida from. But am I wrong Tucker notes it's very true maybe Alabama or Mississippi but like anything weird it's happening related to an automobile happy it's down there who. Is down there. You learn something new every day I did not know that. They were playing trivia today 213 years ago. This week vice president Aaron Burr fatally shot his long time political antagonists Alexander Hamilton. And it drool that was held in week cock in new Jersey Shore doing tribute today based on Alexander Hamilton. What denomination of currency features a portrait of Alexander. Hamilton. Now our text number is 68681. Listen with the correct answer wins a 25 dollar gas card. What denomination of currency features a portrait of Alexander. Hamilton. A question for you too young lads. All right we're doing a story about Fox News and CNBC. And C unit. Right those of the three big cable news networks that are out there that. Do you guys watch any of those who don't know. Do any of your friends watching news through a handful didn't bite my dog in the small handful I don't know anybody egged it's Emily somebody's watching. These networks but they I they are they're numbers continue to deteriorate. Fox News is still in her in first place Fox News still has more of these cable subscribers. Than any other network including the two very important 2554. Yeah in in what you're seeing here is that since the presidential election in particular. MSNBC is seen a big spike in its viewership. It's got hawks lost the law want to. Look at Jesse Helms deep that. Decline is when oil rises yet they've gone from a little over 600610620000. Viewers. Downed around for 72 simplest about a quarter of their audience Megyn Kelly to. Making Telecom from the audience I think it's still going to be short term blip. You need to come back boxes are always new talent always in the coming yeah piece you cycle it's your new job a little Riley Orleans and he Lance aboard off. I don't think he will then we'll see we'll see he's been talking in his back to think anyway. I will be back up the answer to our trivia question and we're going to be talking about Canada in the next segment from our format. You know. God barrier and strong financial exchange. It sure looked like new to exchange radio network. 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With the market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is Barry Armstrong and I'd like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock let Pete each have different characteristics preferred stocks for five investors with a share of the company's ownership but the air typically purchased with a focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market called now 803934001. To get my free guide to understanding the basics about preferred stocks that's 803934001. Or you can download the guide right now at financial exchange show dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Many of you listening today are probably retired are getting close to retirement age so have you taken time to think about what happens if you or your spouse get sick and needs nursing home care hi this is very Armstrong with the question what would you do if your spouse didn't have enough money to live on because you were in a nursing home and depleting your assets like tens of thousands of dollars each month how long we Germany last if you share these concerns that I want you to call Cushing and dole and they've got a new guide out this month that can help educate you on how to deal with this problem you might need a life estate or an irrevocable trust which one would work best for you give the experts at Cushing and -- a call and let them help you create an estate plan that will not only protect your assets from a nursing home but it will also help your family avoid probate and potentially eliminate estate taxes call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange show dot com. Searching for the best savings rate leader bang zoom account doesn't two point 058. 1% back on debit 10% back it featured businesses and reimbursements brother bank's ATM fees to learn more about Zoubek counts call 8776917900. Or visit leader bank dot com minimum deposit to open and an annual percentage yield ten dollars two point 03% interest rate mass residents only he's may reduce earnings rate subject to change without notice member FDIC leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan. Insurance exist to protect your assets. Our friends at the insure -- -- agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. 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The financial exchanges low. On FaceBook so make sure like your page and watched you guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Alexander Hamilton's portrait appears on the ten dollar bill from. The winner on this question was Warren from Plum Island warns take gnome. 25 dollar gas card to shell as his prize in our trivia contest is brought to you. By the law firm of Cushing and Dolan the experts in elder law if you have questions about your existing estate plan. Or if you need advice on creating a trust to protect your assets from probate. Visit Cushing and Dolan today at the legal exchange show dot com. All right well there is a kid of this convention going on in Boston this week. And we're joined by the CEO of the convention it's called cannot con in his name is Bob Smart he joins us today on the financial exchange hi Bob. A barrier terrific terrific so. What can we first of all their convention is that behind and it starts on Thursday cracked. They're. Cop and oh they all day. A profitable opening in that book from the campus. Okay so that's Thursday and then for it goes on Friday and Saturday is all this convention. Yep Friday and Saturday isn't yet black and open development book and all the other similar. Able or governor planned over and if the if they're coming out. Which is Lago got prior right now who is the typical attendees of can completely who should I I'm going on Friday. I'll be there on Friday afternoon I'm hosting this session on the business side of candidates but who who's going to be shown up at this thing. I'm now a bit of everybody has a thing that can kind of judge did not. If a little bit about that they have yeah but kept their drive as well about what the current output earlier. Check it out and we've got a lot of we have a lot of oh who will go that Billick bit the way to yup you know like and topical than young children. Open sister if you're in the spoke well on over in just marijuana. To boot the boot it probably. The amount check my out there watch it is December. That you have stepped up but mostly it is that it can sell you're not it is the only candidate there's no oil belt it out there. What about Bobbie if somebody wants to. Get into the business of growing it on a small scale Leo let's say they want it would we allowed six plants per person. Yet that's where the person in medical there is Eric Washington the court order you okay. One Olympic. So that but there are a little bit oh grow. A different. Similar just on how to get your yield that won't be any pick up right. Or Becker goes up there. I'm gonna create. Our panel under the current leaders. We're really trying to keep that know more about the all grow up like this one the VR it like companies and the that this kind company coming up they're kind of yeah. Okay you're not gonna be the attic and on the bill either in the content. Seattle who want them there they know what we there really blocked on grow. More look at the goal is little smaller they'll try and keep the work Yuma. What about people that wanna work in the candidacy industry with the. But how to advise from back on Saturday we've got a jump that are going on. So anybody interest sitting getting into the camp and and that that they should not look at the movement. Of people are. You look at Colorado alone has created 8000. We think 2.4 billion dollars that is generated in him you know about billion dollars Jack. Go spill correct all purple that I was looking at the bumpers. Population wise. There is that what we're at war population. You know and you're about or put them unemployment rate. Colorado. The kind of the some pretty big. Cortland. Put it really happened from out of the legalization. Well clear of the folks there quicker in the beaten the blog and play right you know that that happens everywhere. Bob would wits how to people sign up for the convention. I'm good at Anaconda worked. Is simply your ticket there okay inspectorate but he listing. If they go on get their tickets and they'll find that the door in my mind yeah it you who has hit them so chaotic on the can't Conway fifty per bit the Bible okay. We all capital letters you know if if the person up whatever it if you look at it is wanna commend for the Expos reliever. It Annika wanted to if you want that the VIP pass advocate and there weren't there a creek open course into the party aired. And all the goodies. Not only order on the boat at that tournament that he the cricket valiantly when everybody the amount. You know we're not trying to keep the price. The general public about it because they really it really is. And that they've written it at having them to choke down numerous days. A lot of people think that is that he's vehemently. It's not if you really if you wanna come it and that's the main Olympic and a Cutler with a really about they'll think. You can open up about. And be profitable in the air watch that over there are a little bit. The. Our Bob we have to run but thank you very much for your time we appreciate it. You got hurt that's Bob Smart he's the CEO of panic on that CA and an eighty. CEO and if you wanna go to the convention on go on them and headlining. A segment track and we're gonna talk about the business side with the banking side of campus that's on Friday it it's. Fascinating what their out put together I was looking at some of the events or some of the events and speakers that are going to be at the Boston won this it's pretty interesting they have you know one guys coming in to talk about how the the change in Massachusetts can affect veterans and the potential for their care based on you know medicinal. Now the guys talk about how to grow candidates near home and what the best ways are to do that I mean the all kinds of different ones who won the big question there's one on how you look at her job you wanna work in the industry death. You know it's there's you know others about the science and unity it's fascinating you know there's one. July 15. Canvas workplace health and safety how do you you know a deal with the change in these laws will still trying to keep a workplace I mean it's. There's there's a lot of really interesting ideas out there. Made it sounds like it should be a pretty good event. Blue apron went public about a week and a half ago. And in that time they've lost a tremendous amount of their value. This of course is an IPO an initial public offering that occurred was of the images. The blue paper appeal it it was out law actually out probably once again the last week in June. And their shares that they're shares are actually up 4% today. Up 4% they still down about 20% since they IPO Kenya was June 30 actually when they IPO. And in pretty much it's just been a very challenging. First week for blue apron. As a publicly traded company and I would argue. There actually might be some more challenges as they get into the fall just because what you see them is that the lockup periods for insiders. They're typically not allowed to sell new shares for at least ninety days sometimes 120 your 180. Okay so look out October. Yeah you get into October somewhere in that ballpark you might see some selling it starts to pick up there if Fossum the insiders are getting nervous so. You know it's a company that it grew rapidly but they've had questions about their ability to retain customers they still are not profitable at this point. And so the market. I really like them that'd. To this point. Keep in mind the trading about eight dollars a share right now they initially wanted to price their IPO between fifteen and seventeen but they couldn't price there and they the price of ten. So they're they're off 50% from where they wanted to IPO. For the month of July. My firm Armstrong advisory group is offering a free guide. And it's about preferred stock I don't know if you own any preferred stock I run across a lot of portfolios and rarely. Do I see investors that hold preferred stocks preferred stocks are considered almost to the hybrid type of security. It tends to be tend to be used by conservative investors if you're an investor of any kind I would suggest you read our free guide to preferred stocks. If you would like to copy of this got to tell you how to get it. You call 800. 3934001. And simply request. Our guide to preferred stocks it's made available in during the entire month of July this year. A guide preferred stocks by calling 800. 3934001. If you can't wait to receive it in the mail go to our website financial exchange showed dot com. You can go to that website and download the guide to preferred stocks right now. You do today financial exchange showed dot com or call toll free 803934001. Securities offered to securities America incorporated member finreg SAP C and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. This tax plan. Now I tell you what Stephen Lucian has recently is over the weekend yesterday. Was saying he wants to get this filed and into place by the end of the year he wants to have a bill in front of congress in September. I still think it probably doesn't happen until January February I just think you look at what congress just what I think you're gonna do it here's my question. Do you think they do it piecemeal little bit here and here here and there or do they try to do sweeping tax reform. You know everyone always thinks that it's easier to do the piecemeal. But I I don't I disagree with that just because there's so much political capital that to be expended on each one of those actions then. Where's if you do it all once it's just what we're doing assault once. Get on board will call off our favors and get everything done that we need to know I just think that's easier way to actually in the doing it's I'd prefer. That they try to go about it with BO you do the personal side to do the corporate side do it all out once you get it all out in in one swoop. And then you can kinda move on from it. If you try to do it piecemeal and say okay let's do the corporate side firms and how long's it gonna take three to get back to the personal side. How many other things pop up in the in a room that derail you from getting there are so. I I would rather see it done all once. I still hoping he gets done until after the years and I do not think that they still have to figure out a budget. Yes it is filmed on a budget this still been dealt dealt with the other debt ceiling there's still health care he's still got health care lingering out there the whole lot that needs to get don't. Up next will be joined by Annie Hall from CNET road show we're going to be talking about the Chevy bolt with a beat. I've been driven one of these cars she hasn't she's gonna give us a comprehensive review of the electric car called the Chevy bolt. That is next from our insurer match dot com studios. The battle over trumps economics continues to affect the markets. Get the latest info on the centers that are winning and those that aren't right here with Berrian jock on the financial exchange radio network. 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B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as they're banking partner call 8776917. -- 900 or email BB EO at -- -- dot com for more information member FDIC equal housing lender. Or you can download the guide right now at financial exchange show dot com. Juries are for two securities America incorporated member finreg SAP C and advisory services are for their securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers link you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance and continued time stress the money we've just one phone call and one relationship. Called today 844 of 99 match or go online and ensure a match dot com. Security suffered through securities America ain't member finreg SIPC an advisory services offer through securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Get the latest on economy from CNBC senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. This segment of the financial exchanges brought to you by zero if you're landlords take advantage of zero to fully automatic online rape collection tool. That is free for landlords with the count at any participating bank and always refer tenants sign up and have rain checks deposited directly into your account. Call 8776917. B 900 or visit C rent dot net. For more information. We're joined now by Annie Hall from CNET talk about the Chevy Volt Miami Dario. Hey how you. Good good so what's your impression of this Chevy Volt did you like it. I love the people it is. Pebble. Oh. Yeah I'm but at model that we thought it would have went about it at all. You move you know and I'll do a bit you all need financial and then you get down that low 30000 which is. Much deeper than any cut but that available right now yeah they got about three coming out it's going it's certainly put up a little bit more competition but. Now that all of the best buy it get out. There and the eight mile range which is it. Wave more than anything else that out there. I can't undergo. A battery. Out with a battery but they're all of these OULU. You a lot Carlos. Go around and all that it. I'm a lot a lot of. How many people does it seat. I am although. Act like we all I've developed maybe it and then you liked it. Look at the what are. Would we knew that when you drove it is it is it perky I mean one of the knocks are one of the you know my cohost is anti electric car he says they're slow I I don't take it slow but it would it would it what was your perspective. I don't think I would it. You. Are 66 county court moments moon who like the people that. Oh I wouldn't picture but on the elevator. There you know like waiting for any brand because there's a single. Year and it only would he isn't as axes. O developer yeah well not but it a lot of could be enough. Power at all. What they're the appearance of it I wasn't crazy about it again I look at the Tesla model three. And I say that some I in my opinion it's a much better looking car than the Chevy able what was your opinion of how it looked physically when you saw because he sighed in person haven't. Yeah yeah I agree it. Act EU LA and outlook now though good. What really got that is by. It. I'll ever done it the old over and then I'm a little bit more. Oh yeah. You would begin by an app and it's clear that it is cool but it doesn't really evoke emotion that spot in the let them model. Have you seen or heard anything about the new leaf the Tony eighteen leaf because that's another car that could compete with the model three and the Chevy Volt. Rate now the big knock on the Chevy and the Nissan leaf is that the range is too short. Yeah I'm you know. Leave and let it out. At me. I'll be all bad if you elect when he got out there are I'm if you look at all. Where. Probably not ever and use public. Right back where it is there at all. How am I don't. Get out work you. Like a little further away and public art I have found. Not in a lot like there might like about whether or. Boy don't call. We want it. All of that. The yeah I wanted out there. At all. And here they are they sell on any of these bolts they do it has the response been on the buying public. Yet people people that like. All. You'll. But. And it out there. Obama I've. Been. I. Bill. That. Now and we thank you very much for your timing your assessment of the Chevy bolt we appreciate it. That's Andy hall CNET road show she likes it she liked it. Your golf cart it's. You you you need to go both the need to. Break out your old fashioned ways and go take a test drive one of these cars all of these days on the gay he would do it title. I I loved. Yeah I don't probable. A bit of a driver on global. Darn darn nice car ever bought from him. The nineties you know about a few from them off. Markets opened the Dow's up thirteen points NASDAQ sup fifteen crude was trading at 4464. Per barrel gold is trading at thirteen. Or else she's 1213. An ounce. You know I haven't looked at as the ten year treasury to 36 is the yield currently. On the ten year treasury. Chuck exotic is back Tucker Silva is back from getting married. My name's Barry Armstrong and we broadcast from our insurer match dot com.